Gold on Track for Best Monthly Performance in 14 Years

Gold reached a record high today, Tuesday, positioning itself for its best monthly performance in 14 years. Concerns about a potential U.S. government shutdown and expectations of further interest rate cuts heightened demand for the metal as a safe haven.

Gold prices in the spot market rose approximately 0.2 percent to $3842.76 per ounce by 0123 GMT. The precious metal has increased by 11.4 percent so far in September, setting the stage for its best month since August 2011.

Meanwhile, U.S. gold futures for December delivery climbed by 0.4 percent to $3872.

Regarding other precious metals, silver remained stable in spot transactions at $46.95 per ounce. Platinum slipped down by 0.2 percent to reach $1597.58, and palladium decreased by 0.8 percent, landing at $1259.02.